5 Unit apartment building on a large 6,800 SF lot in Long Beach! This property has 2 buildings, a front house consisting of a 4 Bedroom / 2 Bath ~1,398 SF and a separate back building ~ 2,100 SF consisting of 4 ALL 1-Bedroom/1-Bath units! This property has on ONSITE… Read More laundry room that brings in additional income! Parking for about 7 cars onsite! This property currently brings in $8,629/month in gross rental income. Currently operating at a CAP rate of 5.1 CAP and 12.6 X GROSS! This is great investment opportunity with upside potential through renovations/rent increases. Located close to downtown Long Beach, shopping and restaurants and offering easy access to Alamitos Beach, 4th Street! Read Less
Property listed by The Moore Group, Kristina Moore 7148097608
Listing Snapshot
Days Online
8
Last Updated
Property Type
Mixed Use
Lot Size
0.16 Acres
Year Built
1910
MLS Number
PW24250938
Additional Details
Building
Built in 1910, Building area total: 3,498, Levels: Two, 2 stories, 2 buildings, Architectural style: , Attached, Common walls: TwoCommonWallsOrMore
Community
Suburban
Cooling
None
Expenses
Operating expense: $36,242
Fireplaces
None
Heating
WallFurnace
Income
Gross income: $103,548, Net operating income: $67,306
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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